EPF suspends Public Mutual's services

Public Mutual Bhd's services as an approved fund management institution, under the Employees Provident Fund (EPF) Members’ Savings Investment Withdrawal, has been suspended effective Oct 29.

As such, Public Mutual is prohibited from opening accounts for EPF members and/or receiving credit transfers from members commencing from yesterday, said an announcement posted on the institution's website since yesterday.

However, it added that the institution would still be responsible for managing existing members’ investments, if any, transferred before Oct 29, 2012.